LTIMindtree Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹1,35,213 Cr
- Book Value
- ₹810
- Stock P/E
- 24.1
- Dividend Yield
- 1.64%
- ROE
- 23.1%
- ROCE
- 29.6%
- PEG Ratio
- 1.06
- EV/EBITDA
- 15.1
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
LTIMindtree share price today
LTIMindtree (NSE: LTIM, now formally renamed LTM Ltd) is India’s sixth-largest IT services company — the 2022 merger of L&T Infotech and Mindtree, backed by the L&T group’s 68.5% ownership. The stock has spent three years going nowhere: down 11% over one year, 29% below its 52-week high, flat over five.
Meanwhile, the June 2026 quarter just printed profit growth of 17% year-on-year with margins at their best level since the merger. When a stock’s price and its operating direction disagree this openly, one of them is wrong. Let us check which.
The setup: a merger that finally digested
The L&T Infotech–Mindtree merger promised scale and delivered indigestion — culture clashes, client overlaps, leadership churn, margins stuck near 16%. That era is ending on the numbers: a new CEO took charge in 2025, operating margin has climbed from 16% to 18–19%, and the order book has turned (AI-led deals under the “BlueVerse” platform, fresh partnerships with Cognition and Glean signed in July 2026).
The franchise underneath was never broken: 29.6% ROCE, 44% dividend payout, near-zero debt, ₹12,568 Cr of investments on the books.
The numbers
From Screener.in, consolidated:
| Year | Sales (₹ Cr) | OPM | Net profit (₹ Cr) | EPS (₹) |
|---|---|---|---|---|
| FY24 | 35,517 | 18% | 4,585 | 154.72 |
| FY25 | 38,008 | 17% | 4,602 | 155.21 |
| FY26 | 42,308 | 18% | 4,983 | 169.25 |
| TTM | 44,075 | 18% | 5,197 | 176.40 |
Two flat years (FY24–25 — the industry-wide IT winter plus merger drag), then FY26 broke the stall: sales +11%, profit +8%, and the exit quarters running much hotter.
Quarterly review — the inflection
| Quarter | Net profit (₹ Cr) | EPS (₹) | OPM |
|---|---|---|---|
| Sep 2025 | 1,381 | 47.27 | 19% |
| Dec 2025 | 960* | 32.74 | 19% |
| Mar 2026 | 1,387 | 46.96 | 17% |
| Jun 2026 | 1,469 | 49.43 | 18% |
*December carried a one-off ₹363 Cr negative in other income — the operating line stayed at 19%.
June profit up 17% year-on-year, the fastest growth among large Indian IT companies this quarter (TCS, Infosys and HCL are growing profit at 5–9%). The margin-repair thesis is now visible in four consecutive prints.
Balance sheet and cash flow
- Effectively net cash: ₹2,310 Cr of borrowings (mostly leases) against ₹24,025 Cr of equity and ₹12,568 Cr of investments.
- FY26 free cash flow of ₹3,890 Cr — cash conversion near 90% of operating profit, year after year.
- Dividend payout 44% and rising with earnings.
Shareholding
L&T holds a rock-steady 68.49% — strategic parentage that guarantees deal flow (the L&T ecosystem is itself a client) and rules out takeover drama. FIIs hold just 6.3% (down from 8.7% two years ago) — the unloved corner of an unloved sector — while domestic funds have raised their stake every single quarter to 16.7%. The float is small; when sentiment turns on IT, small floats move fast.
Valuation — the cheapest quality in large IT
At ₹4,558: 24× trailing earnings, 15× EV/EBITDA, PEG ≈ 1.06 on its five-year profit record. Among large Indian IT names, only Wipro and Infosys trade cheaper — and neither grew profit 17% last quarter. LTIM at 24× versus its own history (30–40× through 2021–22) is the derating already done; the growth inflection is the part the price has not caught up with.
LTIMindtree share price target 2026 to 2030
EPS base ₹176.40 (TTM). Scenarios: bear 6% growth at 17× (IT winter resumes, AI cannibalises services pricing), base 11% at 21× (margin repair completes, deal wins convert), bull 15% at 25× (AI-led re-acceleration with L&T ecosystem tailwind).
| Year | Bear (17×, 6%) | Base (21×, 11%) | Bull (25×, 15%) |
|---|---|---|---|
| 2026 | ₹4,200 | ₹4,700 | ₹5,200 |
| 2027 | ₹4,100 | ₹4,950 | ₹5,750 |
| 2028 | ₹4,000 | ₹5,200 | ₹6,350 |
| 2029 | ₹3,900 | ₹5,450 | ₹7,000 |
| 2030 | ₹3,790 | ₹5,625 | ₹7,710 |
Base case: roughly +23% by 2030 plus a ~1.6% yield — modest, honestly stated, because IT services is now a mid-growth industry. The bull case requires believing this quarter’s 17% is a trend, not a bounce. The bear case prices a genuine AI-disruption scenario for the services model — the one risk that deserves respect.
Reasons to own LTIMindtree
- Fastest profit growth among large IT right now (+17% YoY) at the sector’s most reasonable quality multiple.
- Margin repair with room left: 18–19% versus a 22% pre-merger benchmark — every point is ~₹450 Cr of profit.
- L&T’s 68.5% — parentage, deal flow, and no governance surprises.
- 29.6% ROCE, net cash, 44% payout — franchise economics intact through the winter.
- AI positioning turning tangible (BlueVerse platform, Cognition/Glean partnerships) rather than press-release-only.
- Small float + universally bearish IT sentiment = the setup for sharp re-ratings when flows return.
Risks: generative AI genuinely deflates pricing for commodity services work — the whole sector’s terminal-growth question; client concentration in BFSI/North America; and if the margin repair stalls at 18%, the base case slips a year.
Should you buy at the current price?
The live buy range below is for members — the exact accumulation zone, updated as our view changes.
FAQ
What is the LTIMindtree share price target for 2030? Base case ≈ ₹5,625 (21× on 11% EPS growth), bear ≈ ₹3,790, bull ≈ ₹7,710. Arithmetic shown above.
Why has LTIMindtree fallen while results improved? Sector-wide IT pessimism plus merger fatigue kept the multiple compressed even as Q1 FY27 profit grew 17% — the fastest among large Indian IT companies.
Did LTIMindtree change its name? Yes — the company is formally renamed LTM Ltd in 2026; the NSE ticker remains LTIM and the brand remains LTIMindtree in most client markets.
Is LTIMindtree better than TCS or Infosys right now? It is growing profit faster (17% vs 5–9%) at a comparable multiple, but with less scale and a shorter track record as a merged entity. We treat it as the growth-value pick within large IT, not a like-for-like replacement.
When are LTIMindtree’s next results? Q2 FY27 lands in mid-October 2026 — track it on our results calendar.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises — technology shifts, currency and demand cycles can push prices outside every band shown. Do your own research and consult a registered adviser before acting.